SaskPower Selects 'IMPACT', a Siemens Financial Management Solution

ATLANTA, Sept. 16, 2003 -- SaskPower, the principal supplier of electricity in Saskatchewan Canada, has selected "IMPACT", a Siemens Financial Management Solution. The budgeting and financial forecasting division of SaskPower will use the Solution to prepare current-year financial forecasts on a regular monthly and quarterly basis; and five-year forecasts for the entire company on an annual basis. SaskPower will use this system to consolidate and forecast financial information from its three subsidiary companies as well.

"IMPACT" is a scalable financial planning application that is capable of preparing budget and financial forecasts either separately or on an integrated basis. The Siemens solution is unique in that it combines powerful financial analysis specifically designed for the energy industry by industry experts with all the data management benefits of a financial planning system. This powerful combination provides energy firms with the ability to model a range of business situations including; mergers and acquisitions, interest rate studies, debt and financing options, new corporate structures, rate case studies, cash flow, EPS, Net Income projections, goal seeking, studies of volume, price, cost impacts, and more. IMPACT was developed by NewEnergy Associates, a Siemens Company.

About NewEnergy Associates - a Siemens Company

NewEnergy Associates, a wholly owned subsidiary of Siemens Westinghouse Power Corporation and a division of Siemens Power Generation (PG), has established itself as the leading global provider of true end-to-end IT solutions in the energy market. NewEnergy has been specializing in the development and support of integrated business applications in excess of 25 years, with clients worldwide in electric and natural gas utilities, energy trading and retailing, power generation and project development, transmission, as well as state and national governments.

In fiscal 2002, which ended September 30, 2002, Siemens PG posted sales amounting to EUR9.4 billion and received new orders totaling EUR10.6 billion. Group profit amounted to EUR1.582 billion. On September 30, 2002, Siemens PG had a work force of approximately 26,000 around the world.

About SaskPower

SaskPower is the principal supplier of electricity in Saskatchewan. Founded as the Saskatchewan Power Commission in 1929, their mandate is to deliver safe, reliable, cost-effective power to the residents of Saskatchewan. SaskPower was created as a provincial Crown corporation in 1950 and is governed by the province's Power Corporation Act. SaskPower maintains more than 150,000 kilometres (90,000 miles) of power lines and available generating capacity of approximately 3,100 megawatts. SaskPower has over $3.6 billion in assets and revenues of over $1.2 billion annually.

News from NewEnergy Associates, a Siemens Company, is located at http://www.newenergyassoc.com/pressreleases .

SOURCE NewEnergy Associates

Web Site: http://www.newenergyassoc.com